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Exam 21: Customer Relationship Management (CRM)

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Question 71

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To initiate the CRM cycle,a company must first identify customer relationships within the organization.

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Question 72

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Data mining identifies the most profitable customers and prospects.Managers can then design tailored marketing strategies to best appeal to the identified segments.In CRM this is commonly referred to as _____ customer information to facilitate enhanced relationships with customers.

A) manipulating
B) leveraging
C) harvesting
D) converting
E) managing

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Question 73

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Customer-centric is an internal management philosophy similar to:

How can a company measure its success at implementing customer relationship management (CRM)techniques? How does empowerment influence CRM marketing?

Response lists are especially important in database creation because past behavior is a strong predictor of future behavior.

When Sony Playstation users want to access amenities on the Sony web site,they are required to log in and supply information such as their name,e-mail address,and birth date.They are also given the opportunity to complete a survey that captures much more information about the person and their gaming habits.Sony gathers this information and makes it available internally to better serve the customer.This is an example of a company using:

Toys "R" Us collects a vast amount of data through its Web site,direct mailings,and retail stores.To be useful,all of these data would be centralized in a(n) :

Que Rica Vida General Mills has created Que Rica Vida magazine,which seeks to build relationships with newly acculturated Latina moms by providing them with culturally relevant lifestyle information and expert advice on the topics of education,holiday occasions,health and wellness,and family-issues of great importance to Hispanic families in America.Each issue normally contains 6-10 General Mills coupons.In addition to the magazine,General Mills also has a Web site of the same name: QueRicaVida.com,as well as a Spanish-language iPad application that provides Spanish-speaking consumers with instant access to more than 900 Latin-inspired recipes. -Refer to Que Rica Vida.General Mills' Que Rica Vida magazine encourages customers to visit the accompanying Web site to vote and provide ratings and feedback on their favorite recipes.The company then sends a "thank you" email for responding to their Web site.All of these activities show that General Mills is:

_____ is the process by which learned information from customers is centralized and shared in order to enhance the relationship between customers and the organization.

Empowerment in a CRM environment is normally a process of collecting customer information through customers' feedback on products.

_____ is the process of breaking large groups of customers into smaller,more homogeneous groups.

Blood Services As flextime,consulting,telecommuting,and downsizing make it more difficult for people to donate blood at the workplace,Brooklyn/Staten Island Blood Services has launched a CRM marketing campaign to boost awareness and repeat donations.Early in the campaign it went to its listings of previous donors and pulled out those with birthdays in February,March,and April.These donors were sent a birthday card with the greeting,"On the anniversary of your life,would you consider saving another's life?" -Refer to Blood Services.The organization used CRM marketing to:

Privacy issues are the primary reason for centralizing data in a CRM.

Ford Canada has turned to the Internet to help it stand apart from its competitors in the automotive industry.One Internet ad shows a Ford truck driving out of a forest with its engine roaring and mud splattering on the screen.The wipers come on to reveal the Ford "Built Tough" logo,which then recedes to the side of the screen.The ad directs people to a site where they can sign up to receive direct mail from Ford.Ford Canada will combine this database with a database of new F-series truck owners to look for significant patterns and trends.Ford Canada will use:

Ford Motor Company has launched an online effort to market its F-Series trucks.It hopes to use its database capabilities to capture valuable data on car buyers.Ford plans on cross-referencing new F-series owners with the database generated from this online campaign to see how many names are duplicated.Ford will use these data to forecast which campaigns have the greatest probability of success.Which of the following methods will Ford most likely use to analyze these data?

Blood Services As flextime,consulting,telecommuting,and downsizing make it more difficult for people to donate blood at the workplace,Brooklyn/Staten Island Blood Services has launched a CRM marketing campaign to boost awareness and repeat donations.Early in the campaign it went to its listings of previous donors and pulled out those with birthdays in February,March,and April.These donors were sent a birthday card with the greeting,"On the anniversary of your life,would you consider saving another's life?" -Refer to Blood Services.What technique did the organization use to analyze its donor information?

Los Angeles Sparks The WMBA's Los Angeles Sparks is an example of a sports franchise adopting a CRM approach to grow their fan base.The Sparks CRM system,provided by software vendor "Smart Button" manages all email promotions sent to fans.Additionally,the sparks online fan site keeps fans informed of upcoming games,practices open to the public,team events,and more.The Sparks also instituted their new Home Court Advantage program that awards season ticket holders points for each seat they purchased for the season,that ticket holders can give to others.The ticket holders can actually earn extra points by telling Sparks at ticket renewal time who's getting the seats.At the end of the season,the top three point-givers receive cash prizes.The Sparks organization is gathering information on the ticket holder as well as the people that attend games with the free tickets.As a result,the Sparks have seen a sharp rise in late-season ticket sales this year. -Refer to the Los Angeles Sparks.Sparks' season ticket holders that frequent the Sparks' fan Web site have spent money to buy their season tickets and are likely to purchase again.Which type of analysis will help Sparks identify those customers most likely to purchase again because they have bought recently?

Explain the importance of interactions in a customer relationship management system.Most colleges and universities have some form of CRM system.Describe an interaction that occurs at your institution.

Customer-centric is an internal management philosophy similar to the marketing concept.

The basic assumption of _____ is that marketing to repeat customers is more profitable than marketing to first-time buyers.